From January 1: Record growth of 152 BGN in the minimum wage

The minimum wage from January 1 should be BGN 932.50. This is a record increase of BGN 152, according to the economist and PP-DB MP Georgi Ganev, “24 Chasa” reported.

At the end of last week, the NSI announced that the average salary was BGN 1,957 in the second quarter of 2023. This made it possible to calculate the minimum for next year. According to the new rules, it is 50% of the average for a 12-month period, which includes the last two quarters of the previous year and the first two of the current year.

However, the caretaker government created a working group to create a new formula for the minimum wage, and Social Affairs Minister Ivanka Shalapatova announced that her work would resume.

The European directive states that the minimum wage is 50% of the average or 60% of the median. But there are additional criteria such as purchasing power, growth and distribution of gross wages, etc. In addition, 80% collective bargaining must be reached.

Countries have 2 years to implement the EU directive. It runs from October 2022.

Now nearly half a million Bulgarians work on the minimum wage. With the increase to BGN 932.50, it will approach the average in many sectors. One of them is “Hospitality and restaurant industry”, where it is BGN 1,185.

A seniority class also raises the minimum wage. In a number of sectors and professions, it is not only a reward for experience, but also almost the only guarantee that wages will increase, albeit by a small amount – 0.6% per year.

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